The Genius Solution To The Electric Bus Problem

The electric bus revolution is about to take off. While the prospect of major advances in electric buses receive a small fraction of the attention that electric vehicles receive, the potential for a major transformation is arguably much closer. As with EVs, electric buses promise lower life-cycle costs when compared to their gasoline and diesel counterparts, but upfront costs remain painfully high. However, Proterra, an electric bus manufacturer, is rolling out leasing plans that could eliminate this barrier. Proterra and Mitsui & Co. are teaming up to lease the batteries in electric buses so that the upfront costs of an electric bus reaches parity with a traditional diesel bus. In other words, no upfront cost for the battery, just monthly lease payments over the lifespan of the vehicle. The monthly payments would be offset by the fuel savings. It is the same approach that solar developers began using years […]